Value of imports and exports increased during the month of April

The value of fish products exported during last April increased by 77% compared to April 2017. Fish products valued MVR 208 million was exported in April 2017, whereas this figure was increased to MVR 368 million in April 2018. Among major exporting countries, Thailand was recorded as highest with 50% of the total exports for this period. Other major exporting destinations include Germany, England, United States of America and France.

Apart from exports, the value of imports also showed an increase of 16% in April 2018, when compared to the same period last year. Goods worth more than MVR 3.25 billion were imported during April 2017, whereas the figure was recorded at MVR 3.77 billion during last month. Among the top importing countries, United Arab Emirates recorded the highest with 21%, followed by Singapore 13% and China 12% of the total import value.

With the increase of imports in last month, the total revenue collected through customs duty and other fees and fines was also recorded an increase of 31% compared to that of April 2017. A total of MVR 262 million was collected through import duty and fees last month, whereas the figure was recorded as MVR 200 million in April 2017.